Xinke Copper to introduce strategic investor through capital increase
2019-12-18 16:59:47 [Print]
Kingswood Enterprise Co., Ltd. announced on December 13 that it has entered into a capital increase and share expansion agreement with Chongzuo Industry Investment and Development Group Co., Ltd. and Guangxi Fusui Tongzheng Investment and Financing Group Co., Ltd., both of which have agreed to subscribe for newly-registered capital of RMB45 million (USD6.42 million) in Anhui Xinke Copper Co., Ltd. with RMB150 million (USD21.41 million) in cash, which accounts for 10% of the registered capital of Xinke Copper after the capital increase. The remaining RMB105 million (USD14.99 million) will be added to Xinke Copper's capital reserve. The capital increase is expected to consolidate and strengthen Xinke Copper's leading position in the field of high-precision copper plate and strip.
Kingswood held 100% equity interest in Xinke Copper before the capital increase. Upon on completion of the transaction, Kingswood holds 80% equity interest in Xinke Copper, with the above-mentioned two companies each holding a 10% stake.
Kingswood held 100% equity interest in Xinke Copper before the capital increase. Upon on completion of the transaction, Kingswood holds 80% equity interest in Xinke Copper, with the above-mentioned two companies each holding a 10% stake.
Copper Rod TC Ф8mm EXW China
Unit:RMB/mt
China crude copper producers' suspension number statistics by province by month
Unit: pcs
